Supreme Petro targets Rs 1600 crore business

Supreme Petrochem Limited, India's largest polystyrene producer, is eyeing a turnover of Rs 1,600 crore for the year 2007-08.

The company registered a turnover of Rs 1,400 crore in the previous year of which exports accounted for 50 per cent, R Rangarajan, chief executive - Export Marketing, said.

Supreme Petrochem belongs to the Rs 3,000-crore Mumbai-based Supreme Industries Group and has a strong export market across 85 countries including Europe, North America, Asia.

Polystyrene is a delicate material used mainly for disposable food services and also in the manufacture of appliances like television, refrigerators and air-conditioners. The company's other product of PP compound (Poly Propylene) is largely for the automobile industry.

Rangarajan said the company would come out with an insulation material that can substantially reduce energy consumption in buildings during the first quarter of 2008. It has invested Rs 15 crore in the R&D of the product at its factory in Nagothane in Maharashtra.

The trial run and production would commence before January 2008. The initial production capacity would be 50,000 sq mt per month, he said.

The company has about 20 distributors across the world.